PTO Cash-in

If you are a non-management colleague who is regularly scheduled (budgeted) to work at least 32 hours per pay period and not a physician, during annual enrollment, you can declare the number of PTO hours that you want to cash in during the calendar year - up to a maximum of 40 hours. By making this declaration during annual enrollment, you will receive the PTO hours you cash in at 100% of your straight time rate of pay. Keep in mind that:

If you do not make a declaration during the 2018 annual enrollment period or declare that you wish to cash in less than 40 hours and later choose to cash in more hours, the additional PTO hours you decide to cash in will be paid at 90% of your straight time rate of pay in accordance with IRS guidelines. Please contact your People Services department to cash-in any undeclared PTO hours.

If you are going to transfer to another HSHS facility or move to a management position that is not qualified to cash in PTO at 100%, you will need to request payment for PTO hours before you transfer or move to the new position.

How the Cash-in Policy Works

During annual enrollment for 2018, if you declare that you will cash in:

Based on IRS guidelines, you will be paid:

For example:

Up to 40 of the PTO hours you will accrue in 2018

100% of your straight time rate of pay for the number of hours you declare

If you declare 40 PTO hours, you will be paid 100% of your straight time rate of pay for 40 PTO hours in 2018.

Less than 40 PTO hours

100% of your straight time rate for the number of hours you declare

If you declare 30 PTO hours, you will be paid 100% of your straight time rate of pay for 30 PTO hours.

If you choose to cash in more hours later

90% of your straight time rate of pay for the number of hours you cash in later

If you cash in 10 hours that you did not declare, you will be paid 90% of your straight time rate of pay for 10 hours.

If You Make No Declaration or Become Eligible for PTO after the 2018 Annual Enrollment Ends

You will be allowed to cash in up to 40 PTO hours. You will be paid at 90% of your straight time rate of pay in 2018 for any hours up to 40 hours that you cash in during 2018. Please contact your People Services department to cash-in any undeclared PTO hours.